MIRA INFORM REPORT

 

 

Report No. :

509655

Report Date :

16.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SUNNY  GEMS  BVBA

 

 

Registered Office :

Schupstraat  1-7, 2018 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

11.02.1985

 

 

Com. Reg. No.:

427205816

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Wholesale  of  diamonds  and other  precious  stones

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

BELGIUM - ECONOMIC OVERVIEW

 

Belgium’s central geographic location and highly developed transport network have helped develop a well-diversified economy, with a broad mix of transport, services, manufacturing, and high tech. Service and high-tech industries are concentrated in the northern Flanders region while the southern region of Wallonia is home to industries like coal and steel manufacturing. Belgium is completely reliant on foreign sources of fossil fuels, and the planned closure of its seven nuclear plants by 2025 should increase its dependence on foreign energy. Its role as a regional logistical hub makes its economy vulnerable to shifts in foreign demand, particularly with EU trading partners. Roughly three-quarters of Belgium's trade is with other EU countries, and the port of Zeebrugge conducts almost half its trade with the United Kingdom alone, leaving Belgium’s economy vulnerable to the outcome of negotiations on the UK’s exit from the EU.

 

Belgium’s GDP grew by 1.7% in 2017 and the budget deficit was 1.5% of GDP. Unemployment stood at 7.3%, however the unemployment rate is lower in Flanders than Wallonia, 4.4% compared to 9.4%, because of industrial differences between the regions. The economy largely recovered from the March 2016 terrorist attacks that mainly impacted the Brussels region tourist and hospitality industry. Prime Minister Charles MICHEL's center-right government has pledged to further reduce the deficit in response to EU pressure to decrease Belgium's high public debt of about 104% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and higher inflation promise to curtail a more robust recovery in private consumption.

 

The government has pledged to pursue a reform program to improve Belgium’s competitiveness, including changes to labor market rules and welfare benefits. These changes have generally made Belgian wages more competitive regionally, but risk worsening tensions with trade unions and triggering extended strikes. In 2017, Belgium approved a tax reform plan to ease corporate rates from 33% to 29% by 2018 and down to 25% by 2020. The tax plan also included benefits for innovation and SMEs, intended to spur competitiveness and private investment.

 

Source : CIA

 

Company name and summary                      

 

Business  number

427205816

Branche  Unit  Number

2026933576

Company  name

SUNNY  GEMS  BVBA

Address

SCHUPSTRAAT  1-7

 

2018 ANTWERPEN

Date  of  establishment

11/02/1985

Telephone  number

3232251269

Mobile  number

-

Fax  number

032261325

Liable  for  VAT

yes

VAT  Number

BE.0427.205.816  Check  VAT  number

 

Commentary

 

The  business  was  established  over  32  years  ago.

No  employees  are  recorded  for  this  business.

The  business  has  been  at  the  address  for  over  31  years.

he  business  saw  an  increase  in  their  Cash  Balance  of  77%  during  the  latest  trading  period.

 

Annual  accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2016

 

62,080

511,178

466,799

31/12/2015

 

71,274

499,098

452,787

31/12/2014

 

72,578

497,824

449,312

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2016

1,414,829

-

18,592

59,548

31/12/2015

1,469,241

-

18,592

73,474

31/12/2014

1,204,950

-

18,592

75,623

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

199.73

Industry  average  day  sales

211.47

expectation  days

 

outstanding

 

Day  sales  outstanding

-

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

 

Court  action  type

no

 

PROTESTED  BILLS

 

Bill  amount

-

 

NSSO  DETAILS

 

Date  of  summons

-

 

 

Company information

 

Business  number

427205816

Company  name

SUNNY  GEMS  BVBA

Fax  number

032261325

Date  founded

11/02/1985

Company  status

active

Company  type

Private  limited  liability company

 

 

 

 

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2016

Activity  code

46761

Number  of  staff

-

Activity  description

Wholesale  of  diamonds  and other  precious  stones

 

 

Belgian  Bullettin  of  Acts Publications

moniteur  belge

 

Contractor  details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

Personnel  (NSSO  classification)

 

Code

-

Description

FROM  1  TO  4  EMPLOYEES

Joint  Industrial  Committee  (JIC)

 

 

 

Financials

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2016

%

31-12-2015

%

31-12-2014

%

31-12-2013

%

31-12-2012

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

44,379

-4.17

46,312

-4.53

48,511

-5.91

51,556

-6.97

55,420

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

37,677

-4.88

39,609

-5.26

41,809

-6.79

44,854

-7.93

48,718

Land  &  building

36,751

-5.51

38,893

-5.22

41,035

-4.96

43,177

-4.73

45,319

Plant  &  machinery

658

-8.11

716

-7.50

774

-53.83

1,677

-50.67

3,400

Furniture  &  Vehicles

268

-

0

-

0

-

0

-

0

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

6,702

0

6,702

0

6,702

0

6,702

0

6,702

Total  current  assets

1,370,449

-3.69

1,422,930

23.04

1,156,438

-24.58

1,533,344

17.57

1,304,206

Inventories

525,895

-4.23

549,124

-14.54

642,570

-11.97

729,948

12.59

648,309

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

525,895

-4.23

549,124

-14.54

642,570

-11.97

729,948

12.59

648,309

Trade  debtors

482,075

-27.59

665,766

46.90

453,196

-24.36

599,114

35.27

442,913

Other  amounts  receivable

1,301

1.96

1,276

-39.98

2,126

27.21

1,671

114

777

Cash

355,668

77.20

200,711

279

52,927

-73.07

196,504

-3.60

203,851

Miscellaneous  current  assets

5,511

-8.96

6,053

7.72

5,619

-7.99

6,107

-26.91

8,356

Total  Assets

1,414,829

-3.70

1,469,241

21.93

1,204,

-23.97

1,584,900

16.57

1,359,626

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

511,178

2.42

499,098

0.26

497,824

0.52

495,245

0.20

494,237

Issued  share  capital

18,592

0

18,592

0

18,592

0

18,592

0

18,592

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

492,586

2.51

480,506

0.27

479,232

0.54

476,653

0.21

475,645

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

903,650

-6.85

970,143

37.20

707,126

-35.11

1,089,655

25.92

865,389

Other  long  term  loans

0

-

0

-

0

-

0

-

0

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

0

-

0

-

0

-

0

-

0

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

0

-

0

-

0

-100

170,401

-34.85

261,546

Trade  creditors

783,979

-1.11

792,747

62.53

487,747

-27.52

672,917

93.32

348,093

Amounts  Payable  for  Taxes,

5,866

421

1,124

26.15

891

-

0

-

0

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

113,805

-35.44

176,272

-19.32

218,488

-11.31

246,337

-3.68

255,749

Total  current  liabilities

903,650

-6.85

970,143

37.20

707,126

-35.11

1,089,655

25.92

865,389

Total  Liabilities

1,414,829

-3.70

1,469,241

21.93

1,204,950

-23.97

1,584,900

16.57

1,359,626

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

12.14

-14.99

14.28

-2.06

14.58

1.67

14.34

1.13

14.18

Return  on  total  assets  employed

4.39

-9.48

4.85

-19.44

6.02

34.38

4.48

-13.18

5.16

Return  on  net  assets  employed

12.14

-14.99

14.28

-2.06

14.58

1.67

14.34

1.13

14.18

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.52

3.40

1.47

-10.37

1.64

16.31

1.41

-6.62

1.51

Liquidity  ratio  /  acid  ratio

0.93

3.33

0.90

23.29

0.73

-1.35

0.74

-2.63

0.76

Current  debt  ratio

1.77

-8.76

1.94

36.62

1.42

-35.45

2.20

25.71

1.75

Cashflow

59,548

-18.95

73,474

-2.84

75,623

1.00

74,873

-0.39

75,165

Net  worth

511,178

2.42

499,098

0.26

497,824

0.52

495,245

0.20

494,237

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

-

34.41

-34.98

52.92

Equity  in  percentage

36.13

6.36

33.97

-17.77

41.31

32.19

31.25

-14.03

36.35

Total  debt  ratio

1.77

-8.76

1.94

36.62

1.42

-35.45

2.20

25.71

1.75

Working  capital

466,799

3.09

452,787

0.77

449,312

1.27

443,689

1.11

438,817

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

74,641

-11.56

84,395

-0.32

84,665

6.47

79,523

-7.48

85,953

Operating  Charges

0

-

-

-

-

-

-

-

-

Employee  costs

-

-

-

-

-

-

-

-

-

Wages  and  salary

-

-

-

-

-

-

-

-

-

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

-

-

-

-

-

-

-

Other  employee  costs

-

-

-

-

-

-

0

-

0

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

2,468

12.17

2,200

-27.74

3,045

-21.21

3,864

-23.67

5,063

Operating  result

69,630

-12.43

79,515

0.35

79,239

7.69

73,580

-5.68

78,013

Total  financial  income

63,191

-55.81

142,987

58.71

90,094

113

42,161

-44.97

76,621

Total  financial  expenses

70,741

-53.22

151,227

56.30

96,755

116

44,733

-47.08

84,532

Results  on  ordinary  operations  before  taxation

62,080

-12.90

71,274

-1.80

72,578

2.21

71,008

1.29

70,102

Extraordinary  Income

-

-

-

-

-

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

-

-

-

Extraordinary  items

-

-

-

-

-

-

0

-

0

Results  for  the  Year  Before  Taxation

62,080

-12.90

71,274

-1.80

72,578

2.21

71,008

1.29

70,102

Taxation

5,000

-

-

-

-

-

-

-

-

Results  on  ordinary  operations  after  taxation

57,080

-19.91

71,274

-1.80

72,578

2.21

71,008

1.29

70,102

Net  result

57,080

-19.91

71,274

-1.80

72,578

2.21

71,008

1.29

70,102

Profit  (Loss)  for  the  Year  to  be  appropiated

57,080

-19.91

71,274

-1.80

72,578

2.21

71,008

1.29

70,102

Dividends

-

-

-

-

-

-

-

-

-

 

 

Social Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2016

 

Full-time  Employees

-

Part-time  Employees

-

Total  Fte  Employees

-

Number  of  hours  worked

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Personnel  Charges

 

Full-time  Employees

-

Part-time  Employees

-

Total

-

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

-

Actual  working  hours

-

Personnel  Charges

-

Benefits  In  Addition  To  Wages

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

-

-

-

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

Substitution

 

 

 

 

Gender and Education Level

Men

Full-Time

Part-Time

Total Fte

Primary education

-

-

-

Secondairy education

-

-

-

Higher education (non university)

-

-

-

Higher education (university)

-

-

-

Women

Full-Time

Part-Time

Total Fte

Primary education

-

-

-

Secondairy education

-

-

-

Higher education (non university)

-

-

-

Higher education (university)

-

-

-

 

Working Category

Full-Time

Part-Time

Total Fte

Management

-

-

-

White collar worker

-

-

-

Blue collar worker

-

-

-

Other

-

-

-

 

Temporary  personnel

 

Total

 

Average  number  of  temporary  staff

 

-

 

Actual  working  hours

 

-

 

Cost  of  temporary  staff

 

-

 

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

-

-

-

Leavers

-

-

-

 

 

Total  of  formal  continuing  vocational  training  initiatives

 

 

for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  less  formal  and  informal  continuing  vocational

 

 

training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  initial  training  initiatives  at  the  expense  of  the

 

 

employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

 

 

Payment Information

 

Suspension of payments / moratorium history

 

Amount -

Details  -

 

Payment expectation days         -

Day sales outstanding   -

 

Industry comparison

 

Activity code

46761

Activity description

Wholesale of diamonds and other precious stones

Industry average payment expectation days

199.73

Industry average day sales outstanding

211.47

 

Industry  quartile  analysis Payment  expectations

 

Company  result

-

Lower

129.28

Median

58.79

Upper

26.67

 

Day  sales  outstanding

 

Company  result

-

Lower

137.49

Median

82.62

Upper

46.10

 

 

Shareholder Details

                                                                 

Summary

 

 

 

Group  -  Number  of  Companies

0

 

 

Linkages  -  Number  of  Companies

0

 

 

Number  of  Countries

0

 

 

 

Group  Structure

No  group  structure  for  this  company.

 

Minority  Shareholders

No  minority  shareholders  found

 

Minority  Interests

No  minority  interests  found

 

Companies  that  match  this  address

 

Business  number

Company  name

Date  of  accounts

447387655

ATZMON  CHAIM  EBVBA

31/12/2007

404977176

S.  MULLER  AND  SONS  DIAMONDS  NV

29/09/2016

419519159

ELIKING  DIAMOND  BVBA

31/12/2016

463382757

PERI  DIAMONDS  BVBA

31/12/2006

462392862

EUROPEAN  QUALITY  CIRCLE  EBVBA

31/12/2016

461830559

OCTAGON  DIAMONDS  BVBA

31/12/2009

425026383

ALL  DIAMOND  BVBA

-

421277235

MOLDI  DIAMONDS  (BELGIUM)  BVBA

-

460697045

PINCHASI  JEWELS  BVBA

31/12/2016

821319487

OCTAGON  BLUE  BVBA

31/12/2016

851516775

VME  SCHUPSTRAAT  1-7  VME  VME

-

863664244

ATZMON  BVBA

31/12/2016

442025931

JAEL  DIAMONDS  NV

-

463594573

OTHELLO  DIAMONDS  NV

31/12/2016

830513208

DIAMOND  VAULT  NV

30/03/2016

422478253

DIAMANT  IMPEX  BVBA

31/12/2015

437857901

SONYDIAM  BVBA

31/12/2001

417418813

HORIZON  DIAMONDS  BVBA

31/12/2016

429582415

INTERNATIONAL  GEMMOLOGICAL  INFORMATION  BVBA

-

899578295

SARAFF  MANUFACTURER  BELGIUM  BVBA

31/12/2016

888487633

JEWELMARK  EUROPE  BVBA

31/12/2016

424658575

MOBEL  BVBA

-

453684440

WESTCOAST  DIAMONDS  NV

31/12/2006

405995379

EFBEN  INTERNATIONAL  COMPANY  BVBA

-

411656221

KIMBERLEY-BELSDIAM  NV

29/06/2006

466561189

C.B.  DIAMONDS  BVBA

31/12/2016

840722061

TT  DIAMONDS  BVBA

31/12/2016

415201273

INTERNATIONAL  GEMMOLOGICAL  INSTITUTE  BVBA

31/12/2016

404982522

RACHBROS  DIAMOND  COMPANY  BVBA

31/12/2006

821410054

OCTAGON  BLUE  GCV

31/12/2013

463903290

PRINCESS  DIAM  BVBA

29/09/2007

879057253

FLASH  DIAMOND  BVBA

31/12/2016

430574882

ALLIED  DIAMONDS  NV

29/09/2016

428791963

DE  BELGISCHE  VRIENDEN  VAN  SHAARE  ZEDEK  VZW

-

451308039

DAYAGI  MH  BVBA

31/12/2015

 

 

Linked Companies

 

Summary

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

Summons

There  is  no  data  for  this  company

 

Protested  Bills

There  is  no  data  for  this  company

 

Bankruptcy  and  other  legal  events

There  is  no  data  for  this  company

 

 

Director details

 

Current director details

 

Position

Manager

Start  Date

01/10/2013

Street

112 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

Name

Ashish  Saraiya

Former  director  details

 

Name

Mukesh  Saraiya

Position

Manager

Start  Date

06/09/2001

End  Date

01/10/2013

Street

112 BELGIËLEI  ANTWERPEN

Post  code

2018

Country

Belgium

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.52

UK Pound

1

INR 91.48

Euro

1

INR 80.52

Euro

1

INR 80.08

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VIV

 

 

Report Prepared by :

DNS

 

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.